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Gaming and Leisure Properties Enters Multi-Faceted Funding and Development Partnership with Bally’s Corporation Totaling $1.585 Billion

Jul 12, 2024•about 2 years ago

Contract Type

partnership

WyomissingReal EstateGaming

Description

Gaming and Leisure Properties, Inc. has entered into a binding term sheet with Bally’s Corporation to acquire real property assets of Bally’s Kansas City Casino and Bally’s Shreveport Casino & Hotel, as well as provide construction financing for the Bally’s Chicago Casino Resort, for a total of approximately $1.585 billion. The transaction further expands and diversifies GLPI’s industry-leading regional property portfolio and provides Bally’s with financing for its flagship Chicago casino facility.

Company Information

Company

Gaming and Leisure Properties

Location

Wyomissing, Pennsylvania, United States

About

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

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Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
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